How to Join a Crypto Bounty Campaign on Bitcointalk
Altcoin markets have finally been perking up recently, with many coins seeing double-digit gains across the last 48 hours or so, which means that if you are interested in finding out how to get a hold of some tokens of a new, upcoming project – basically for free – now might be a better time to do so than any time previously this year.
How to Join a Crypto Bounty Campaign on the Bitcointalk Forum
By now, you’re probably familiar with the term “bounty hunter” as it applies to the world of cryptocurrency. In you’re not, a crypto bounty hunter is someone who simply performs a task or series of tasks for the end goal of being rewarded a sum of coins or tokens of the project they are helping. During 2017, this practice was quite lucrative, and a bounty hunter could earn a thousand dollars (or more) for simply performing a few retweets or Facebook Shares of news about the project a week. By 2018, the ICO market had become flooded with poorly-planned or fake project, making it much harder to earn decent money, and by 2019, it became almost impossible.
Nowadays bounty hunters must be extremely selective deciding which project or projects are worthy of their time, as by this point it’s a statistical probability that most will end up failing. If you are new to the game, here are a few basic pointers on how to get started. There are a few basic options on where to go to get started looking for potential projects. We recommend signing up for accounts in the following places:
While the first two options are pretty easy to use and fairly self-explanatory, it is this third option that we will be delving into the most, as it is easier to compare and contrast projects through viewing their presentation on Bitcointalk than it is scouring for information about them across the web. If you don’t have one already, the first thing you’ll want to do is create an account. We’ve covered this process step-by-step in a previous article, which you may want to read before proceeding any further in this one. After your account has been created, or if you already have an account, you’ll want to visit the Bounties (Altcoins) section to see the listing of current bounty opportunities, which usually looks a bit something like this:
It may seem a bit daunting to get started, but you’ll immediately want to try to identify a few things:
- which bounty programs are currently active
- which bounty programs are likely to be legitimate
- which bounty programs will honor their word in paying bounty participants
The first can be established by clicking on the bounty thread link and reading the OP (original or opening post) to scan for the dates of the bounty. Some bounty programs only last for a week or two, some last several months.
Finding a Profitable Project
Determining whether a bounty is likely to be for a legitimate project or not can be a difficult or even near impossible task, but we have a checklist of a few simple guidelines to help you narrow down the potential candidates that may be worth your time:
- Identify the bounty manager. The bounty manager is pretty much always the OP of the bounty thread. Have they conducted successful bounties in the past? What is their trust rating? You can read the feedbacks left by other members by clicking the word “Trust” found underneath their name to get an idea of what their bounty participants (and others in the community) think of them. Good managers not only do a good job of getting their participants paid but also have an eye for which projects to choose. Managers with a bad reputation should of course be avoided, and betting on an unknown manager is definitely a risky gamble. Ideally, you’ll want to choose a project with a manager who has ratings like this:
- Analyze originality and feasibility of project. Ideally these are things that should have already been performed by a good bounty manager before taking on an ICO/IEO/STO project as a client, however there is no harm in doing your extra “due diligence” before deciding to devote your time to a bounty. Basically, is the ICO market already flooded with similar types of ideas? If so, you’ll probably want to pass. You should definitely at least skim through a project’s white paper and try to determine if the idea makes sense and can be realistically implemented. Does the project have any notable team members or advisors – or better yet – do they have a track record of success leading other projects? If you can, be on the lookout for signs of a plagiarized white paper or even fake team members in a crypto project. A quick reverse image search of team members or search for text from the white paper may yield interesting results.
- Analyze work & risk / reward ratio. Ideally, bounty hunting should only be a part-time, side profession. You should not have to dedicate your entire day to fulfilling bounty requirements in order to be rewarded with a share (commonly called a “stake”) of coins or tokens. Additionally, you should find right from the start if the bounty will require you to submit personal information for KYC purposes. If the answer is “yes,” you may want to rethink whether supplying what is likely to be an unregulated business with personal documents is a good idea, as these documents could be sold or otherwise misused if they fall into the wrong hands.
There are a number of things that can go wrong for a bounty hunter to keep in mind: not getting paid for work by either the bounty manager or the project team, ending up working for a lackluster or scam project whose token never achieves any sort of value, and potential mismanagement of the project and/or bounty itself. Most of these can be mitigated by choosing a professional project to work for, led by a professional bounty manager. However, one thing that can’t be controlled is market forces. You could end up promoting a stellar project only to watch crypto market sentiment plummet deep into the red.
Truth be told, the first bounty program you participate in likely won’t be a hit, but if you keep plugging away, you may eventually hold winning tokens that more than compensate for time spent gathering the rest.
Different Types of Bounty Opportunities
Bounty campaigns are usually divided into multiple parts, all serving the end goal of increasing general awareness of the project being advertised. Generally speaking, a set number of tokens are set aside from an ICO for the purpose of paying bounty hunters, and these tokens are divided into categories of different tasks. Below is an example of a distribution of bounty tokens for an average ICO:
The general categories are:
- Social media campaigns. Joining this segment of the bounty will usually consist of advertising an ongoing ICO through your social media profile(s). The most common platforms are Facebook, Twitter, and Reddit.
- Content generation campaigns. These consist of writing original blog entries or creating YouTube videos highlighting the ICO and its benefits. They might also include writing Medium or Steemit articles, or any way to advertise the project through generating original content.
- Translation campaigns. These campaigns involve translating a project’s white paper, promotional content, or website content from English to another language. The amount of languages most projects are looking for translations in is quite large, so if you speak additional languages, this may be the perfect way to earn some tokens.
- Signature campaigns. You can also get tokens through wearing a “signature” advertising the project in your Bitcointalk account signature space. If you have a Newbie account, you will not have this option, but if you have any advanced rank there’s a chance you can earn tokens just through posting on Bitcointalk with the ICO advertisement in your signature space.
Tips for a Successful Bounty Experience
Be sure to read through all the rules of the campaign before getting to work. There’s nothing worse for a bounty hunter to not get paid at the end of the bounty period simply because they forgot to abide by the campaign rules. If you have any questions or find something needs additional clarification, it’s frequently a good idea to contact the bounty manager via PM in the forum or else write your question in the bounty thread itself. In addition, many bounty programs will have a Telegram group where members can get in touch with the bounty manager and other participants to discuss related matters in a more personal setting.
Have patience when waiting for your share or stake of coins or tokens to be delivered. It can be nerve wracking sitting around wondering if you are going to get properly compensated for your work or not, but just remember that the bounty is only one of several components required to run a successful ICO, and that the ICO project managers may have other things on their mind that require sorting before getting around to bounty-related token distribution. When dealing with ICO team members and bounty managers, it is always better to be polite and patient. As in much of life itself, seldom does being rude and impatient get one anywhere, especially on a professional level.
Lastly, do not attempt to cheat bounty programs by creating multiple accounts, as you are likely to be caught. There are several ways of detecting whether or not cheating is being done in a bounty campaign: recycling the same social media accounts across different Bitcointalk accounts, using the same ETH address for multiple Bitcointalk accounts, or sending ETH from multiple Bitcointalk accounts to a common ETH address. If you are caught, your account(s) will be tagged, and you will not be accepted to (most) future bounty campaigns for which you apply.
That’s it. Provided that you are already familiar with how to receive and send Ethereum tokens in a wallet such as MyEtherWallet or MetaMask, you are now ready to begin your career as a bounty hunter. The number of potentially profitable opportunities out there is staggering. Just use your best judgment when picking a project, remain optimistic while ready to learn different rules and systems, and you may one day just stumble upon the next hit ICO, rewarding yourself with a nice stash of “near-free” tokens that could be worth hundreds or even thousands of dollars some day — potentially even some day soon.